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Author Topic: Bitmex conducted an experiment with brainwallets  (Read 321 times)
liamblogging101
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October 14, 2020, 08:43:01 PM
 #21

 Smiley :)Yeah, that's what my minds suggest, and BitMEX acknowledges that it might be a really safe way to do it (mixing with stuff that other people can't realize and only combining with a random variable like dice), but then they didn't believe the brain wallet project would fail too spectacularly either, did they?

The concern is that our minds can't understand how difficult/easy problems are. And I'd like not to experiment with it all.
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October 15, 2020, 11:39:37 AM
 #22

and only combining with a random variable like dice
If you are going to create true entropy, such as you would by rolling dice, and then commit it to memory, then why not just generate a seed phrase in the usual way and commit that to memory?

Memorising your wallet/seed phrase/brainwallet input/whatever is universally a bad idea due to how fragile human memory is, but at least if you memorize a seed phrase your coins won't be stolen almost immediately as they would be with the vast majority of human generated brainwallets.
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October 15, 2020, 11:17:04 PM
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 #23

Wait a minute...
Ok, as I said first I'm not really sure about the resources needed in the first place but when we start with a phrase and add a single spelling error, aren't the possibilities for it reaching the same results as in trying all combination of private keys? I had a pretty bad day and I'm tired so maybe I'm saying something stupid but taking a phrase like the one in the example:

When you're generating a random private key, you are guaranteed your 128-256 bits of security. But when you start messing with brainwallets, you'll never know how much bits of security you actually have, because the space of potential values is unknown, and humans also don't choose these values randomly, some words/phrases are much more common than others, even if they seem to be uncommon.

Potential attackers could try to make a lot of optimizations for hacking brainwallets, for example they can make a psychological profile of an average Bitcoin users, for example they might be more likely to be nerdy, so they will be looking for phrases from sci-fi books, videogames, cult classic movies, etc. The way people try to make passwords more complex can also be predictable, they often put numbers in the end, use l33tspeach, capitalize the first or the last letter, etc.

Also, this thing with misspelling a phrase can backfire if you'll forget where you made a mistake, in that case you'll have to do some trial and error or even write a script to bruteforce your brainwallet.

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